Insider Selling: Pegasystems Inc. (PEGA) CAO Sells $36,203.44 in Stock

Pegasystems Inc. (NASDAQ:PEGA) CAO Efstathios A. Kouninis sold 728 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $49.73, for a total transaction of $36,203.44. Following the transaction, the chief accounting officer now directly owns 1,012 shares in the company, valued at $50,326.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Pegasystems Inc. (NASDAQ PEGA) traded up $0.40 during trading hours on Thursday, hitting $49.85. 246,500 shares of the stock traded hands, compared to its average volume of 331,368. The stock has a market capitalization of $3,850.18, a P/E ratio of 115.00 and a beta of 1.24. Pegasystems Inc. has a 12-month low of $34.05 and a 12-month high of $64.85.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The firm had revenue of $179.80 million for the quarter, compared to the consensus estimate of $200.15 million. Pegasystems had a net margin of 5.67% and a return on equity of 9.86%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. analysts forecast that Pegasystems Inc. will post 0.26 earnings per share for the current year.

Several large investors have recently bought and sold shares of PEGA. Bank of Montreal Can raised its stake in Pegasystems by 1.3% during the second quarter. Bank of Montreal Can now owns 4,785 shares of the technology company’s stock worth $280,000 after purchasing an additional 62 shares during the period. Legal & General Group Plc raised its stake in Pegasystems by 1.1% during the second quarter. Legal & General Group Plc now owns 14,206 shares of the technology company’s stock worth $830,000 after purchasing an additional 155 shares during the period. The Manufacturers Life Insurance Company raised its stake in Pegasystems by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 29,432 shares of the technology company’s stock worth $1,717,000 after purchasing an additional 587 shares during the period. Voya Investment Management LLC raised its stake in Pegasystems by 6.2% during the second quarter. Voya Investment Management LLC now owns 17,380 shares of the technology company’s stock worth $1,014,000 after purchasing an additional 1,010 shares during the period. Finally, Swiss National Bank raised its stake in Pegasystems by 2.2% during the second quarter. Swiss National Bank now owns 64,300 shares of the technology company’s stock worth $3,752,000 after purchasing an additional 1,400 shares during the period. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on PEGA shares. TheStreet downgraded shares of Pegasystems from a “b-” rating to a “c” rating in a research note on Wednesday, November 22nd. Zacks Investment Research downgraded shares of Pegasystems from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $63.00.

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About Pegasystems

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

Insider Buying and Selling by Quarter for Pegasystems (NASDAQ:PEGA)

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